Embed Size (px)
Citation preview
Central Bank & Trust Co.
Central Bank of Jefferson County
Central Insurance Services
Central Investment Center, Inc.
2014
SECOND QUARTER
REPORT
CONNECTING WITH
OUR
COMMUNITIES.
MISSION STATEMENTThe mission of Central Bancshares is to become
Kentucky’s leading, high-performing, community
banking company by empowering our staff to deliver
consistently superior service and value to our customers,
shareholders and communities. We will be successful
because Central Bankers are our greatest resource and
our most sustainable advantage.
The Children’s Charity Fund of the Bluegrass is a local nonprofit organization we have partnered with for many years. Now in its 34th year, the Children’s Charity Golf Classic draws celebrities from all over the country to raise money for children in need in Central Kentucky. The charity has raised more that $8 million, with nearly 100% of that amount going directly to benefit children in need.
For additional copies or
INFORMATIONStephen C. KellyCENTRAL BANK300 West Vine StreetLexington, KY 40507(859) [email protected]
HELPING TO KEEP OUR COMMUNITIES STRONG.
CHILDREN’S CHARITY
CONTENTS Financial Highlights 1
Consolidated Balance Sheets 2
Consolidated Statements of Income 3
Boards of Directors 4
Officers 6
1
FINANCIAL HIGHLIGHTS
For six months ended June 30
RESULTS OF OPERATIONS: Net income Net income per share Cash dividends per share Book value per share at quarter end
AT JUNE 30: Assets Earning assets Net loans Deposits Shareholders’ equity
PERFORMANCE RATIOS: Return on average assets Return on average shareholders’ equity Average shareholders’ equity to average assets Net charge-offs to average loans Allowance for loan losses as a percentage of quarter end loans Net interest margin (tax equivalent)
CONTENTS Financial Highlights 1
Consolidated Balance Sheets 2
Consolidated Statements of Income 3
Boards of Directors 4
Officers 6
2014
$ 7,213,50620.73
0.00575.56
$ 2,082,402,1581,922,488,8531,617,240,7541,758,233,639
200,250,190
0.70%7.38%
8.87%0.15%
1.48%3.86%
*All periods prior to 2013 include the balances and results of Salt Lick Deposit Bank which was sold effective January 1, 2013.
2011
$ 5,778,37516.61
0.00466.11
$ 2,108,346,5001,929,807,0151,681,483,2831,824,806,829
162,169,002
0.55%7.29%
6.78%0.29%
1.45%4.08%
2010
$ 3,390,5969.750.00
443.68
$ 2,120,360,6111,935,439,2831,751,086,9861,788,472,396
154,365,749
0.33%4.45%
6.62%0.40%
1.19%3.98%
2012
$ 6,236,46217.92
0.00498.53
$ 2,130,888,1771,952,972,6501,634,177,9221,838,962,932
173,450,399
0.59%7.33%
7.38%0.22%
1.85%3.86%
2013
$ 6,170,29917.73
0.00535.26
$ 2,101,380,2431,945,033,3101,561,373,8741,775,738,596
186,228,698
0.59%6.75%
8.11%0.32%
1.64%3.60%
(
2
CONSOLIDATED BALANCE SHEETS
ASSETS Cash and due from banksFederal funds sold Total cash and cash equivalentsSecurities Loans, net of unearned incomeAllowance for loan losses Loans, netPremises and equipment, netFederal Home Loan Bank stockIntangible assetsPrepaid expenses and other assets Total assets
LIABILITIES AND SHAREHOLDERS’ EQUITYDeposits: Non-interest bearing Interest bearing Total deposits Customer sweep accountsFederal funds purchasedFederal Home Loan Bank advancesLong term debt payableOther liabilities Total liabilities
SHAREHOLDERS’ EQUITYCommon stock, par value, $10 a share; 350,000 shares authorized, 347,922 shares outstandingAdditional paid-in capitalRetained earningsAccumulated other comprehensive income (loss) Total shareholders’ equity Total liabilities and shareholders’ equity
June 302014
June 302013
$ 55,708,55063,400,000
119,108,550235,016,911
1,641,515,05124,274,297
1,617,240,75437,764,127
6,751,10014,795,16451,725,552
$ 2,082,402,158
$ 497,800,5451,260,433,0941,758,233,639
81,584,262500,000
2,804,05724,400,00014,630,010
1,882,151,968
3,479,2206,890,468
192,764,466(2,883,964
200,250,190$ 2,082,402,158
$ 43,120,883126,200,000169,320,883250,328,448
1,587,327,72125,953,847
1,561,373,87437,042,3377,050,900
15,089,07161,174,730
$ 2,101,380,243
$ 416,896,5831,358,842,0131,775,738,596
86,126,7690
2,833,58037,600,00012,852,600
1,915,151,545
3,479,2206,890,468
179,570,592(3,711,582
186,228,698$ 2,101,380,243
() )
))
3
For six months ended
CONSOLIDATED STATEMENTS OF INCOME
INTEREST INCOME Interest and fees on loans Interest on securities Interest on short term investments
INTEREST EXPENSE Interest on deposits Interest on borrowed funds
Net interest incomeProvision for loan lossesNet interest income after provision for loan losses
OTHER INCOME Service charges on deposit accounts Service charges on loans Wealth management income Other income
OTHER EXPENSES Salaries Benefits Occupancy Other non-interest expenses
Income before provision for income taxesProvision for income taxesNet income
Basic earnings per share
June 302014
June 302013
$ 38,632,289 1,466,506
64,54140,163,336
2,910,3931,057,0383,967,431
36,195,9052,814,523
33,381,382
4,314,5763,958,1766,315,1401,336,768
15,924,660
16,131,5373,702,2088,495,688
13,083,56341,412,996
7,893,046679,540
$ 7,213,506
$ 20.73
$ 39,187,694 1,046,163
207,31240,441,169
4,791,0471,414,7036,205,750
34,235,4194,251,000
29,984,419
4,403,8865,786,6885,672,4182,104,761
17,967,753
16,168,1453,830,6858,384,190
12,662,66641,045,686
6,906,486736,187
$ 6,170,299
$ 17.73
BOARDS OF DIRECTORSCentral Bancshares, Inc. and Central Bank & Trust Co. Board of Directors
Luther Deaton, Jr. Chairman, President & CEO, Central Bancshares, Inc. and Central Bank & Trust Co.
Michael D. Foley Partner Ray, Foley, Hensley & Company, PLLC Certified Public Accountants
Joan D. Kincaid Vice Chairman of the Board, Central Bancshares, Inc. and Central Bank & Trust Co.
Wayne M. MartinRetiredWKYT-TV
Nick Nicholson Retired, Keeneland Association, Inc.
G. Michael RitchiePresident & CEO Photo Science, Inc.
Paul E. Sullivan Partner, Frost Brown Todd, LLC
Central Bank, GeorgetownAdvisory Board of Directors
Dallas BlankenshipRetired SuperintendentScott County Board of Education
Mason “Butch” GlassCommunity Volunteer
William C. HaughCEO, Georgetown Community Hospital
George H. LusbyScott County Judge Executive
Kimberly E. MarshallPresident
Randy MasonOwner-Operator, McDonald’s
W. Thomas PratherChairman, Central Bank, Georgetown
Central Bank, LexingtonAdvisory Board of Directors
Dennis AndersonPresident, Anderson Communities
Sheila BayesOwner, Sheila Bayes Fine Jewelry
Bill BrewerTrustee, Poole Enterprises
Shea HopkinsExecutive Director & CEO, KET
Dave HouchinPresident, Intech Contracting
Tom JonesPresident, Taper Roller Bearings, Inc.
Dr. Michael KarpfExecutive Vice President for Health Affairs/UK HealthCare
Mike KerwinPresident, Mike Kerwin Homes
Craig KingPresident, R.J. Corman Company
William Lear, Jr.Managing Director, Stoll, Keenon, Ogden, PLLC
Pat MaddenPresident, Pro Sports Management
Bill OwenPresident, Lexington Convention Center
Ralph PawsatPresident, Wald, LLC
P.G. PeeplesPresident, Urban League of Lexington
Brent RiceAttorney, McBrayer, McGinnis, Leslie and Kirkland
Dr. Christine RiordanProvost, University of Kentucky
Dr. William RoodRood & Riddle Equine Hospital
Charlie ScrogginSenior Vice President HDR-Quest Engineers, Inc.
Lisa Ball SharpVice President, Ball Homes
Steve ShermanPresident, Sherman-Carter-Barnhart Architects
Linda SlagelPresident, Highbridge Spring Water
Nick StrongOwner, Old Colony Insurance Services
Mike TearneyGatton College Associate Dean Emeritus,University of Kentucky
Bill ThomasonPresident, Keeneland Association, Inc.
4
Chairman, President & CEOLuther Deaton, Jr.
Central Bank, Madison County Advisory Board of Directors
Dianna Ackerman Broker/Owner, ERA Professional Hometown Services
Frankie C. Blevins, Jr.Attorney, Blevins Law, LLC
Robert R. BlytheEKU ProfessorPastor, First Baptist Church
James R. CarrBuilder and Developer
Shannon Combs Partner, Combs, Parsons and Collins Funeral Home
Jeff FultzPresident
James Ernest HillardOwner, Middletown Industrial
Clark PergremOwner, Onyx Coal Holdings
Mike Rice Owner, Cars of Kentucky, Inc.
Rita H. SmartOwner, The Bennett House
Central Bank, NicholasvilleAdvisory Board of Directors
Sandra J. AdamsOwner, Zaxby’s
Michael D. Foley Partner Ray, Foley, Hensley & Company, PLLC Certified Public Accountants
Joan D. KincaidVice Chairman of the Board, Central Bancshares, Inc.
Ben A. RainwaterTutt Construction
Paul E. Sullivan Partner, Frost Brown Todd, LLC
Benjamin G. TaylorTaylor Made Farm & Sales Agency, Inc.
Alan S. VanArsdallPresident
Central Bank, Northern Kentucky Advisory Board of Directors Chris CarleSenior Vice President, Chief Operating OfficerSt. Elizabeth Healthcare, Florence
Helen CarrollManager, Community RelationsToyota Motor Manufacturing
Joseph A. Creevy, M.D.Retired Urologist
Mark GoetzOwner, Edgewood Electric
Merwin Grayson, Jr.President
Kim PattonCOO, SFA/PDT Architects
Doug RidenourPresident, Federal Equipment
Gregory ShumateMember, Frost Brown Todd, LLC
Ray Will, M.D.Cardiothoracic Surgeon
John YeagerOwner, Ashley Development
Central Bank, WinchesterAdvisory Board of Directors
James AllenFormer Clark County Judge-Executive
Gerald F. (Kelly) Healy IIIDirector of Operations McDonald’s
Nancy LawwillRetired Vice President & Assistant Treasurer Central Bank, Winchester
Glenn LeveridgePresident
Rex McCrary, D.M.D.Dentist
Jeff MonohanAssistant Vice President The Allen Company
Ralph J. PalmerPresident, Palmer Engineering Co.
Patricia M. SmithPresident, MD Consulting, Inc.
Robert Strode Retired
Mary Jane WarnerManager of Power Delivery, East Kentucky Power Cooperative, Inc.
Central Bank of Jefferson County Board of Directors
Jonathan S. BlueChairman, Blue Equity, LLC
Ronald L. CarmicleChairman, Central Bank of Jefferson County, President & Owner, River City Development
Marcia CassadyDirector, Classical Studies Institute of Louisville
Luther Deaton, Jr. CEO, Central Bank of Jefferson County
Michael D. Foley Partner Ray, Foley, Hensley & Company, PLLC Certified Public Accountants
William P. MaloneRetired, Deming, Malone, Livesay & Ostroff
James Clay SmithPresident
William E. Summers, IVRetired, Deputy Mayor, Louisville Metro Government
Jude ThompsonOwner & CEO, Transform Business Solutions, LLC
5
OFFICERSCentral Bancshares, Inc.
Luther Deaton, Jr. Chairman, President & CEO
Joan D. Kincaid Vice Chairman
Anne B. Carter Vice President
Ranee LelandVice President &Corporate Secretary
C. Gregory StacyTreasurer
Central Bank, Lexington
ADMINISTRATION
Luther Deaton, Jr. Chairman, President & CEO
Ranee LelandVice President &Corporate Secretary
Auditing
Craig L. Daniels, CPA Senior Vice President
Lisa S. Grant, CRCMVice President & Compliance Officer
Donna J. Craven, CRCMVice President
Danny C. NolandVice President
COMMERCIAL BANKING
Gregory A. Bibb Executive Vice President
Credit Administration
Jason A. SmithVice President
Samuel CollinsSenior Credit Analyst
Jarred W. PaullCredit Analyst
Loan Review
Marie A. YoungVice President
David ChrismanSenior Vice President
D. Keith PrestonVice President
Leigh M. CarrAssistant Vice President
LeeAnn LayneAssistant Vice President
Michael WilliamsAssistant Vice President
Loan Services
Laura L. SchweitzerSenior Vice President
Timothy R. AustinAssistant Vice President
Loan Processing
Donna M. TurnerVice President
Special Assets Ellen Sharp Vice President
Steve HallVice President
Julie SzymanskiAssistant Vice President
Becky MullinsSpecial Assets Officer
Commercial Lending
Mark KaufmannSenior Vice President
Mark R. Fox Vice President
David RossVice President
Jake SchirmerVice President
Stephen J. MalloryAssistant Vice President
Shane AndersonCommercial Lending Officer
Consumer Lending
Jerry F. Smalley Vice President
Mortgage Lending Paul R. ThornsberrySenior Vice President
Megan BarlowVice President
Paul B. DrakeVice President
Jordan OwensAssistant Vice President
Small Business
Ernest W. DolihiteSenior Vice President
Richard D. Hartley Vice President
Terri A. Jones Vice President
Alicia F. SmithAssistant Vice President
Central Bank Mortgage
Ed WorkmanSenior Vice President
Susan BradleyVice President
Tom BreathittVice President
Brad FieldsVice President
Rebecca HaddixVice President
Catherine HimesVice President
Lorraine KinleyVice President
Brian W. West Vice President
Lisa Hart Assistant Vice President
HUMAN RESOURCES
Rose Douglass Executive Vice President
Amy ManningVice President
Shelia Plymale Vice President
June CarpenterHuman Resources Officer
TECHNOLOGY SERVICES
Julia Bondra Executive Vice President
Anna ClaytonVice President
E. Sean ProfittVice President
Kevin J. LippertAssistant Vice President
Brian D. CatronApplication Development Officer
Chris SchumInformation Security Officer
Paul StewartTechnology Services Officer
RETAIL BANKING
David L. Moore Executive Vice President
Michael GartnerSenior Vice President
Chris McGaugheyCRA Community Development Officer
Banking Centers
Karen Burton Assistant Vice President
Lana AlexanderRetail Banking Officer
Ugochi E. AlinnorRetail Banking Officer
Jeffrey BentonRetail Banking Officer
Gina EnsmingerRetail Banking Officer
6
Angela M. FrieszRetail Banking Officer
Barbara JohnsonRetail Banking Officer
Pamela LancasterRetail Banking Officer
Ashley NorvellRetail Banking Officer
Laura M. OwensRetail Banking Officer
Philip RochesterRetail Banking Officer
Alexandra E. TerryRetail Banking Officer
Client Services
Cathy K. Combs Senior Vice President
Diane Williams Client Services Officer
FINANCIAL PLANNING AND CONTROL
Edward BarnesExecutive Vice President & Chief Financial Officer
Robin OliverSenior Vice President
Shawn PresnellVice President
Lisa A. WilliamsonFinancial Planning Officer
ENTERPRISE RISKMANAGEMENT
C. Gregory StacyExecutive Vice President
Beth LakesVice President
Funds Management
James R. NallAssistant Vice President
MARKETING Stephen C. Kelly Executive Vice President
Lesley KellerMarketing Officer
Correspondent Banking
Doug Flynn Correspondent Banking Officer
OPERATIONS AND SUPPORT
Operations Anne B. Carter Executive Vice President
Karen G. Crawley Senior Vice President
Robin Michul Senior Vice President
Harvey SwordVice President
Internet Banking
Brenda P. Oaks Assistant Vice President
Card Services
Beverly Smalley Assistant Vice President
Corporate Services
Karen RowlandSenior Vice President &Corporate Treasury Manager
Maggie AbneyVice President
Tracy ReidVice President
Lisa K. Vickers Vice President
Chris CampbellAssistant Vice President
Deposit Services
Alisa DurhamVice President
Bank Security Jeff D. Jacob Senior Vice President & Security, BSA & AML Officer
Angela D. CampbellOperations Officer
WEALTH MANAGEMENT
Trust
Barry HickeySenior Vice President &Trust Manager
Business Development
Charles N. Rush, Jr.Vice President
Employee Benefits Vicky L. Foster Vice President
Sheila C. Parks Vice President
Operations Gayle DockeryAssistant Vice President
Personal Trust Kathryn Wilson GibsonSenior Vice President
Eloise G. Penn Vice President
Carolyn BishopTrust Officer
Anna HovekampTrust Officer
Investment Management
Timothy D. FyffeSenior Vice President &Senior Portfolio Manager
Thomas CorrVice President & Senior Portfolio Manager
Private Banking
Gregory M. ShewmakerSenior Vice President &Private Banking Manager
Rita L. BuggVice President
Leslie FanninVice President
Alicia JordanVice President
Christopher ThomasonVice President
Matthew FrankPrivate Banking Officer
Central Insurance Services
Ross BarnettePresident
Tom FrancisVice President
Rob WesselVice President
Justin WhippleVice President
Steven P. WrightVice President
Don YadenVice President
Beverly HicksCommercial Insurance Officer
Central Investment Center, Inc.
Jeff GinnanExecutive Vice President & Senior Financial Advisor
Jeff Fields, CRPS®
Vice President & Financial Advisor
Tony BrownFinancial Advisor
Jim DeMossFinancial Advisor
Deborah FisherFinancial Advisor
Jacobus M. Ockers Financial Advisor
Thomas E. Roberts, CFP®
Financial Advisor
7
OFFICERS
Central Bank, Georgetown
Kimberly E. MarshallPresident
Jennifer J. RobertsVice President
Patricia Voigt Vice President
Jennifer BaldwinAssistant Vice President
Mortgage Lending Ashley WeirAssistant Vice President
Central Bank, Madison County
Jeff FultzPresident
Cameron AbneySenior Vice President &Senior Market Lender
Scott JohnsonVice President
Ken RileyVice President
Mortgage Lending Donna HaneyVice President
Central Bank, Nicholasville
Alan S. VanArsdallPresident
Tom PorterExecutive Vice President & Senior Market Lender
Cathy LoweVice President
Jill SloneAssistant Vice President
Brandy OsborneCommercial Lending Officer
Mortgage Lending
Marcus P. HanksVice President
Monna Treadway Assistant Vice President
Central Bank, Northern Kentucky
Merwin Grayson, Jr.President
Matthew E. EilersVice President & Senior Market Lender
Karen J. HomanVice President
Mortgage Lending
Dennis BarnesAssistant Vice President
Retail Banking
Joseph NienaberVice President &Retail Development Officer
Troy FeddersVice President &Retail Banking Officer
Private Banking
John FinleySenior Vice President
Karen HartigVice President
Larry LuebbersVice President
Central Bank, Winchester
Glenn LeveridgePresident
Tim M. DuncanSenior Vice President
Lisa T. EarlywineVice President
Tammy M. CarrollAssistant Vice President & Retail Development Officer
Melissa ShimfesselRetail Banking Officer
Mortgage LendingLee ColemanAssistant Vice President
Amy TurnerAssistant Vice President
Central Bank,Jefferson County
James Clay SmithPresident
Jeff D. Jacob Senior Vice President &Security, BSA & AML Officer
Lisa S. Grant, CRCMVice President &Compliance Officer
William E. Summers, VSenior Vice President &Business Development Officer
Commercial Banking
Amy SullivanSenior Vice President
Mortgage Lending
Jeanie GammonAssistant Vice President
Retail Banking
David BondVice President & Retail Development Officer
Elaine FawbushAssistant Vice President
Casey SteitzRetail Banking Officer
Private Banking
Robert SliderSenior Vice President
Mary LittrellVice President
Wealth Management
Bill KaiserVice President
OFFICERS
8
Central Bank & Trust Co. and Central Bank of Jefferson County are subsidiaries of Central Bancshares, Inc.
centralbank.com(859) 253-6222(800) 637-6884
Member FDIC
